Repayment of loan

Borrowers of student loans can repay their debt via mail, check, phone, website, and app. Borrowers can set up various payment options with Great Lakes, like autopay and income-driven payment plans. Additionally, guidance on adjusting due dates and delaying payments is offered.

At the moment, neither Great Lakes, Nelnet, MOHELA, nor FedLoanServicing allows credit card payments. The only options are debit cards, savings accounts, and checking accounts.

If you already have a federal student loan with Great Lakes Student Loans, you should know that your servicer is transferring to Nelnet and will continue to forward payments to Nelnet for at least 120 days after your transfer date, but you will need to open a new Nelnet online account after your loan transfers. You must configure any new payment preferences with Nelnet.

Early payoff

Borrowers can request MyGreatLakes to make additional payments on their existing debt if they want to do so (by phone, online, or by mail). There is no prepayment penalty.